Keppel prospers in booming market

Jan. 4, 2007
Keppel Offshore & Marine Ltd. had a busy 2006. A recently released company statement says Keppel completed and delivered 26 newbuilds and conversions totaling $1.3 billion, on time or ahead of time and within budget last year.

Offshore staff

SINGAPORE -- Keppel Offshore & Marine Ltd. had a busy 2006. A recently released company statement says Keppel completed and delivered 26 newbuilds and conversions totaling $1.3 billion, on time or ahead of time and within budget last year.

Keppel O&M also received $1.7 million in safety and early-delivery bonuses from various owners for projects completed and under way.

"Effective utilization of our global network of shipyards, planned expansion of our facilities, and careful execution of our near market, near customer strategy have also played an important role to the success in 2006," says Keppel O&M managing director Tong Chong Heong.

In the past year, Keppel FELS delivered six jackup rigs, one semisubmersible drilling tender (SSDT) rig, and one upgraded semisubmersible, Diamond Offshore'sOcean Endeavor, which was delivered in December.

The yard also delivered its last jackup for the year on Dec. 27.Wilcraft, a KFELS B Class rig, was delivered four days ahead of schedule.

Keppel Shipyard, despite more than 300 vessels being docked intermittently throughout the year for repairs and conversions, delivered two major FPSO conversion projects in 2006.

The year 2006 also saw Keppel Singmarine make on-time deliveries of three tugs and 11 offshore support vessels, including its first ice-class anchor handling tug supply (AHTS) vessel. The AHTS, MVSvetlyy, was delivered ahead of time on Dec. 20.

Keppel's yard in the Philippines, Keppel Phillipines Marine Inc., completed the construction of two tugs during the year.

Keppel O&M has a global network of 17 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East, and the North Sea regions.

1/4/2007